Introduction

There can be no understanding of law, whether national or international, without a prior understanding of the policy issues that it seeks to deal with. In these circumstances, it is essential that the present study of the international law relating to foreign investment is placed in its proper policy and political context. This is all the more necessary, given the long history of dispute over applicable rules and standards in this field. It is not proposed, nor is it necessary, to go over that history here. It has been done elsewhere.[1] For present purposes it is enough to point ...